Horten has assisted Banque Internationale à Luxembourg S.A. with its sale of the Danish banking activities to Ringkøbing Landbobank.
The activities in Denmark have focused on assets management for customers with assets of a certain size, and these activities will now be included in the purchaser’s business within the same area.
Banque Internationale à Luxembourg S.A. has branches in Copenhagen and Aarhus, and the transferred customers will be attached to Ringkjøbing Landbobank’s Private Banking.
The sale is conditional on the Danish FSA’s approval and partly on an earn-out.
Horten has assisted Banque Internationale à Luxembourg S.A. in connection with the transaction with a team headed by Claus Bennetsen, Lise Lotte Hjerrild, Jonas Enkegaard and Christian Tue Rasmussen.
Read more about the transaction:
Finanswatch: Ringkjøbing Landbobank overtager større gruppe rigmandskunder (article in Danish)
Ringkjøbing Landbobank A/S: Banken overtager aktiviteterne i BIL Danmark (article in Danish)